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Near field communication tools continue to hold promise for retailers, though the technology has its limitations, writes David Wachs, senior vice president of mobile at ePrize. Within the realm of NFC tools, ISIS, a joint venture of AT&T, T-Mobile and Verizon, may have the greatest consumer appeal with the mobile application's ability to store credit cards, rewards and coupons as well as tickets and transit passes. But regardless of technology, what is needed is infrastructure and incentives for mobile users to make the payments switch.

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Samsung Electronics will reportedly introduce a smartwatch that features a mobile-payment service using near-field communication technology. Samsung, which has not yet commented on the report, plans to introduce a Samsung Pay wallet service in July with "select partners." Apple's smartwatches already use NFC technology.

Near field communication tools continue to hold promise for retailers, though the technology has its limitations, writes David Wachs, senior vice president of mobile at ePrize. Within the realm of NFC tools, ISIS, a joint venture of AT&T, T-Mobile and Verizon, may have the greatest consumer appeal with the mobile application's ability to store credit cards, rewards and coupons as well as tickets and transit passes. But regardless of technology, what is needed is infrastructure and incentives for mobile users to make the payments switch.

Smartphones built from an Intel reference design will use near-field communications technology to tie up with Visa's PayWave mobile-payment software, the companies have announced. Separately, the Isis Mobile Wallet will soon work with credit, debit and prepaid cards issued by Barclaycard, Capital One and Chase, with the service being tested later this year in Austin, Texas, and in Salt Lake City. Meanwhile, a MasterCard executive said the credit card isn't rapidly fading away as mobile-payment systems take hold around the world. "There will be a period of co-existence for a long while," said James Anderson, the company's head of mobile development.

The field of NFC-enabled mobile payments will be broad enough that no clear winners or losers will emerge, says the head of the Isis venture, who welcomes the presence of competitor Google Wallet. "Anything that gets people moving is fine by me," said Michael Abbott, CEO of Isis, a partnership of AT&T, Verizon Wireless and T-Mobile USA. Google's efforts will develop the market, he says, by boosting public awareness and getting the necessary interested parties on board.

With many smartphones already equipped with near field communication chips that allow consumers to send data short distances, three NFC firms are forming a global alliance designed to advance the use of the technology as more than just a way to enable mobile payments systems: Blue Bite, Proxama and Tapit say the technology has vast potential as a marketing tool that would allow clients to exchange data with their target audiences on a mass scale.